20 Heller Frankenmarkt

One of thousands of Austrian municipal emergency notes — Notgeld — issued in the chaotic years following the First World War, when small denominations vanished from circulation and towns were forced to print their own. Frankenmarkt is a small market town in Upper Austria, and like most issuing municipalities, it had no printing infrastructure of its own; the design credit to "A. Wilh." almost certainly indicates a local commercial printer or graphic artist contracted for the purpose rather than any notable engraving house.

The 1920 date places this in the later wave of Austrian municipal issues, after the collapse of the Habsburg currency system had made small-change scarcity a chronic problem rather than a temporary one.